
CMS says GEMS cannot cut 25% reserve requirement
The comment comes amid a growing standoff between organised labour and GEMS after the scheme announced a 9.8% contribution increase for 2026.

The comment comes amid a growing standoff between organised labour and GEMS after the scheme announced a 9.8% contribution increase for 2026.

Meanwhile, MPs have questioned the SARB’s push to liquidate Ithala, arguing it conflicts with Parliament’s resolution to support the bank’s growth.